http://mcalvanyweeklycommentary.com

Audio commentary on "gold sell off", very interesting.

"After four years of budget deficits in excess of $1 trillion, the nonpartisan Congressional Budget Office forecast Tuesday that this year’s deficit will plummet to $642 billion, or 4 percent of the nation’s total economic output", and "The forecast puts the nation on track for its smallest deficit since 2008, before the recession hit in full force. And the CBO predicts that the gap between revenue and spending will continue to shrink through 2015, when it will fall to just over 2 percent of the economy — well within the bounds of what economists consider to be economically sustainable".

How is it the economy is not improving if the deficit is expected to now shrink to just over 2 percent of the economy, a relatively healthy level. I know everyone here is convinced its all mope and spin and the truth of the matter is that the economy is in shambles, and the Fed must print, and therefore gold and silver must move higher, but is there evidence to the contrary? I don't know.

http://www.washingtonpost.com/business/economy/cbo-budget-deficit-to-plunge-to-642b-this-year-lower-than-expected/2013/05/14/e46112fe-bccb-11e2-97d4-a479289a31f9_story.html

hamster openly stated here on main street that his/her password got lost and so he/she created a new account.

...but you were too fast with your reply to me:

edit:

p.s. I find it rather interesting that you can spot multiple accounts... are there more, and, more important, do you own an "incognito" account here?

inquiring minds want to know!

Even if that's the case, understand that Augatha and Hamster are one and the same and they work for The Perth Mint.

Also understand that he is and has always been almost entirely ideologically aligned with you.

Do you really not understand why your investment thesis has blown up in your face?  It seems to me you have been coming here for a while.  Do you not read any of the posts or comments or is it a reading comprehension problem?  And if you are honestly trying to figure this out, do you really turn to the Washington Post and the CBO to try and put the puzzle together?  WTF? 

A big shout-out to our friends at The Perth Mint. 

I like your products. 

But I still have you on my 'Ignore' list. 

Below are today’s likely price locations of buy and sell stop orders for the active Comex gold and silver futures markets. The asterisks (**) denote the most critical stop order placement level of the day (or likely where the heaviest concentration of stop orders are placed on this day).

See below a detailed explanation of stop orders and why knowing, beforehand, where they are likely located can be beneficial to a trader.

Stop Orders Defined

Stop orders in trading markets can be used for three purposes:  One: To minimize a loss on a long or short position (protective stop).  Two: To protect a profit on an existing long or short position (protective stop). Three: To initiate a new long or short position. A buy stop order is placed above the market and a sell stop order is placed below the market. Once the stop price is touched, the order is treated like a “market order” and will be filled at the best possible price.

Most stop orders are located and placed based upon key technical support or resistance levels on the daily chart, which if breached, would significantly change the near-term technical posture of that market.

Having a good idea, beforehand, where the buy and sell stops are located can give an active trader a better idea regarding at what price level buying or selling pressure will become intensified in that market.

The major advantage of using protective stops is that, before a trade is initiated, you have a pretty good idea of where you will be getting out of the trade if it's a loser. If the trade becomes a winner and profits begin to accrue, you may want to employ "trailing stops," whereby protective stops are adjusted to help lock in a profit should the market turn against your position.

By Jim Wyckoff

over whom will be in charge of the new currency...................................

http://www.zerohedge.com/news/2013-05-16/petrodollar-petrogold-us-now-trying-cut-irans-access-gold

As was MY theory long ago posted here.

The pressure applied to the Euro to remove it from possible replacement....
The economic and military pressure applied to those offenders of the current system.......with their use of weapons of mass destruction. They should know better than to trade outside the dollar.

Afghanistan, Iraq, .....then moving forward to the other "Axis of Evil" (George Bush guidestones) Iran, North Korea......

Syria, Libya................................

A line formed beneath the main adversaries to the dollar to the east.

History shows........Currency Wars.......
Trade Wars...........
Hot Wars.

The Congressional Budget Office's projections are worthless. They're based on unrealistic assumptions about future economic growth and federal revenue and spending levels. That said, the federal budget deficit (the difference between federal receipts and outlays) for the current fiscal year, which ends Sept. 30, will likely be under $1 trillion. I looked at the Monthly Treasury Statement for April, which came out last week, and I was surprised to see that there was actually a $113 billion surplus (gasp!) for the month of April. The cumulative deficit through April is just under $488 billion, and there are only 5 months left in the fiscal year.

I just read an article in USA Today stating that the Treasury has taken steps to avoid breaching the debt limit??? Yet the statutory limit was "temporarily" suspended at the end of January of this year. So why would the Treasury be worried about breaching the debt limit? That makes no sense to me.

When the federal government is running budget deficits it must borrow to pay its bills, which is where the federal debt comes into play. But since April 1, there has actually been a net decrease in the federal debt of about $10 billion. (The federal debt level fluctuates from day to day based on issuances and redemptions of all types of Treasury debt.) The budget surplus in the month of April and the lower debt levels could be due to increased federal revenues, but that's likely attributable to Americans taking profits in 2012 in order to avoid higher future tax rates. But it seems that something else is going on. I personally think that the federal government is worried about another downgrade.  

Hey, if you search for "Pope" on USA Today, guess how many entries there are? 

http://www.usatoday.com/search/pope/

Deja Vu !

No, I dont mean the strip club on Washington Ave in the Warehouse district of Minneapolis but holy moly Batman, I just say gas was at $4.19 today. That was a 30 cent jump in the last day or two.  I dont follow inventory levels but isnt "consumption" of gas lower these days because less people are actually working ???  Maybe they failed ECON 101 and the very first thing we learned on day 1. 

Anyway, my point is I remember back in 2008 when gas reached this level and not to much longer the house of cards collapsed.  Any Turdites in the Minneapolis area that would like to meet up for a beer sometime, hit me up! 

Just saying !

NB
 

Unless there is an endless supply, eventually the Silver Stockpile will run out due to supply and demand - usage.  If you believe - in any way - the stockpile numbers over the last 10+ years, you have seen them fall continually until JUST ABOUT NOW they should be about OUT.   Remembering of course, that the world used to have a small percentage of  3 or so Billion people using it - and now we have a MUCH LARGER percentage of 7 Billion People using it.

If you understand that basically modern society HAS TO HAVE SILVER to operate - NOT GOLD, that is a different subject - the only way I see turning BUYERS INTO SELLERS to make up the shortfall is for the price to go DRAMATICALLY HIGHER, either voluntarily by RE-PRICE or involuntarily !

Unless of course, you believe in the endless supply theory - which I am actually not sure how works ????

I almost got the feeling the Pope was talking about the USA until I read this:

"Unchecked capitalism had created “a new, invisible, and at times virtual, tyranny”, said the former Cardinal Jorge Bergoglio. "

I am now trying to think of a country where capitalism has actually been practiced recently.

Unchecked Facism had created "a new, totally visible, and at times brutal, tyranny."  There Pope, I fixed it for you.